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Bullish Moving Average Cross by Steel Dynamics (STLD)

By Amy Schwartz

Today, shares of Steel Dynamics (NASDAQ:STLD) have crossed bullishly above their 10-day moving average of $24.66 on a volume of 756K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Steel Dynamics share prices have been bracketed by a low of $15.32 and a high of $26.99 and are now at $25.17, 64% above that low price. The 200-day and 50-day moving averages have moved 0.59% higher and 2.57% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Steel Dynamics. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Steel Dynamics in search of a potential trend change.

Keywords: moving crosses Steel Dynamics

Ticker(s): STLD